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European Bank and British Know-How Fund to assist Lithuanian hydrocarbons industry
The European Bank for Reconstruction and Development, with financing from the British Know-How Fund, will support advisory services to the Lithuanian Ministry of Energy to develop and implement a hydrocarbons industry programme, which is expected to involve the upgrading of crude oil refinery, pipeline and port facilities.
"The ultimate goal for Lithuania is to build a new hydrocarbons port on the Baltic Sea, to upgrade the oil refinery at Mazeikiai and to construct necessary pipelines connecting the new port and the refinery. The technical cooperation grant, provided through the Bank, will enable the Ministry of Energy to receive independent advice on ways to develop its strategy, find financing partners and make sound environmental choices", said Thierry Baudon, Director of the Bank's Infrastructure, Energy and Environment Department.
Options to be considered will include partnership with international oil companies.
Funding for the advisory services is to be provided by the British Know-How Fund, which should result in firm decisions on facilities, foreign partners and financing by the end of the first quarter of 1994. NM Rothschild and Sons Limited and Trichem Consultants Limited have been selected as consultants based on a competitive process according to European Bank procurement procedures. The Bank will closely monitor progress of assistance and the preparation of recommendations to the Lithuanian authorities, with a view to potentially offering finance for project implementation.
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